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Cost of EVs to Match Internal Combustion Engine Cars by 2022
What's more, the accounting firm predicts that another 21 million electric cars will be on the road globally over the next decade due to growing market demand for clean transportation, government subsidies, as well as bans on fossil fuel cars.
All-electric cars (versus plug-in hybrids, for instance) will account for 70 percent of total electric vehicle market by 2030, the analysis says.
Cheaper prices is another factor that could boost consumer demand. Cost is often cited as a major barrier to mass adoption, but the report says that ownership cost of battery electric vehicles will match gasoline and diesel cars in the United Kingdom by 2021 and globally by 2022.
That's Deloitte's most hopeful prediction. Under less ideal conditions, it could take until 2024 for the cost to own a battery electric vehicle to be on par with traditional internal combustion engine cars, the company notes.
Other reports have also suggested that electric car sales will accelerate rapidly, which is positive news for the environment and public health. These cars help reduce tailpipe emissions that contributes to harmful air pollution and climate change.
However, Deloitte forecasts a global glut of 14 million vehicles as manufacturers' investment in capacity outpaces consumer demand by 2030.
"This gearing up of EV production is driving a wide 'expectation gap' and manufacturers, both incumbent and new entrants alike, will need to adapt towards this new competitive landscape," Michael Woodward, UK automotive partner at Deloitte, said in a press release.
"Those that can successfully build trust in their brand, ensure a positive customer experience from initial sale through to aftercare, and reflect consumer shifts towards the sharing economy in future business models will successfully navigate this," Woodward continued. "Equally, continual investment in engineering talent and the formation of partnerships with bespoke battery producers and third-party mechanic networks will also be important."
Many of the world's biggest automakers are shifting away from traditional internal combustion engines to charging.
On Tuesday, Toyota announced new efforts to move its electric lineup by pairing up with Panasonic, the world's largest manufacturer of lithium-ion battery cells. Panasonic also supplies batteries for Tesla's electric cars.
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By Ana Reisdorf, MS, RD
You've probably heard the buzz around collagen supplements and your skin by now. But is the hype really that promising? After all, research has pointed to both the benefits and downsides of collagen supplements — and for many beauty-conscious folk, collagen isn't vegan.
By Marlene Cimons
Neil Pederson's introduction to tree rings came from a "sweet and kindly" college instructor, who nevertheless was "one of the most boring professors I'd ever experienced," Pederson said. "I swore tree rings off then and there." But they kept coming back to haunt him.
By Daisy Brickhill
Each morning, men living in fishing communities along Ghana's coastline push off in search of the day's catch. But when the boats come back to shore, it's the women who take over.
By Sam Nickerson
Links between excess sugar in your diet and disease have been well-documented, but new research by Harvard's School of Public Health might make you even more wary of that next soda: it could increase your risk of an early death.
The study, published this week in the American Heart Association's journal Circulation, found that drinking one or two sugar-sweetened beverages (SSBs) each day — like sodas or sports drinks — increases risk of an early death by 14 percent.
Tyson Foods Recalls Nearly 70,000 Pounds of Chicken Strips After Customers Find ‘Fragments of Metal’
Tyson Foods is recalling approximately 69,093 pounds of frozen chicken strips because they may have been contaminated with pieces of metal, the U.S. Department of Agriculture (USDA) Food Safety and Inspection Service (FSIS) announced Thursday.
The affected products were fully-cooked "Buffalo Style" and "Crispy" chicken strips with a "use by" date of Nov. 30, 2019 and an establishment number of "P-7221" on the back of the package.
"FSIS is concerned that some product may be in consumers' freezers," the recall notice said. "Consumers who have purchased these products are urged not to consume them. These products should be thrown away or returned to the place of purchase."
Environmental exposure to pesticides, both before birth and during the first year of life, has been linked to an increased risk of developing autism spectrum disorder, according to the largest epidemiological study to date on the connection.
The study, published Wednesday in BMJ, found that pregnant women who lived within 2,000 meters (approximately 1.2 miles) of a highly-sprayed agricultural area in California had children who were 10 to 16 percent more likely to develop autism and 30 percent more likely to develop severe autism that impacted their intellectual ability. If the children were exposed to pesticides during their first year of life, the risk they would develop autism went up to 50 percent.